AppleInsider reports today on some staggering news from Newsweek, which has announced that it is to close its print edition in 2013, and go digital-only. The news was broken by editor-in-chief Tina Brown and CEO Baba Shetty today, via a post on The Daily Beast. In the announcement, Brown and Shetty say that the closure of the print edition is as a result of the “challenging economics of print publishing and distribution.” AppleInsider notes that Newsweek’s iPad app is the 45th (at time of writing) most popular free app on the iPad App Store, and 37th Top Grossing. However, it hasn’t had very good reviews, with many users saying that it crashes a lot. Obviously the Newsweek team will be putting even more of their efforts into making the app a success once the print version closes. AppleInsider writes that a recent survey estimated that iPad users spend $70,000 per day on average on Newsstand content.
Source: Newsweek to cease print edition, go digital-only with iPad & other platforms